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Canada


Financial News

Canada's Core Inflation Rate Unexpectedly Accelerates to 2.1% in February Canada’s core inflation rate unexpectedly accelerated last month on higher costs for automobile insurance and accommodation during the Vancouver Winter Olympics, pressuring the central bank to increase interest rates.

Aurizon Mines Targets Acquisitions to More Than Triple Output, CEO Says Aurizon Mines Ltd., owner of the Casa Berardi mine in Quebec, said it’s looking for acquisitions of early-stage exploration projects to help more than triple output in the next five years.

Sticky Core Prices May Boost Pressure for Policy Rate Rise: Canada Credit Investors are bringing forward their expectations for when the Bank of Canada will raise its key interest rate after reports today showed a measure of inflation above the bank’s forecast and strong retail sales.

Canada's Dollar Posts Third Consecutive Straight Weekly Gain on Rate Bets The Canadian dollar posted its third consecutive weekly gain amid speculation the Bank of Canada will raise interest rates before the Federal Reserve, increasing the appeal of the nation’s assets.

Stocks Fall in Toronto as Commodity Producers Drop on Greece Debt Concerns Canadian stocks fell for a second day, completing their first weekly loss this month, as energy producers declined with commodity prices after European leaders clashed over how to address the Greek debt crisis.

Shell, Nexen Make `Significant' Deepwater Oil Discovery in Gulf of Mexico Royal Dutch Shell Plc and Nexen Inc. made a “significant” oil discovery in the Gulf of Mexico, adding to finds in the area last year.

Canada January Retail Sales Increase as Home Renovation Tax Credit Expires Canadian retail sales rose in January, as consumers stocked up on home improvement supplies before a federal tax credit expired.

African Barrick Gold Raises 581 Million Pounds in Share Sale in London Barrick Gold Corp., the world’s largest gold producer, raised 581 million pounds ($873 million) selling shares of its African unit near the low end of its price range in the biggest London initial public offering since 2008.

Icahn Begins Hostile $574.4 Million Bid for Lions Gate After Earlier Snub Carl Icahn began a $574 million hostile offer to buy Lions Gate Entertainment Corp. after the film studio rejected his efforts to increase his stake to as much as 30 percent.

New Canada Dollar Trading Range May Maintain Currency's Strength, BMO Says Canada’s dollar may have entered a new trading range that would limit weakening against its U.S. counterpart, Bank of Montreal said.

General News

Harper Donates Beer Winnings From Obama Olympic Bet to Hockey Hall of Fame Canadian Prime Minister Stephen Harper will donate to the Hockey Hall of Fame two cases of beer he won from U.S. President Barack Obama as payment for an Olympic bet.

Halt Barrick Gold Mine Expansion, Shoshone Nevada Tribes Urge Court Barrick Gold Corp.’s expansion of a Nevada mine must be halted until the federal government completes an environmental analysis to comply with an appeals court order, American Indian tribes said today.

Bank of Montreal Shirked Responsibility for Trading Losses, Cassidy Says Bank of Montreal’s record commodity-trading losses in 2007 resulted from bad bets and failed supervision of its employees, former Optionable Inc. Chief Executive Officer Kevin Cassidy said while urging a judge to throw out a lawsuit.



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